—Encompass users can now more effectively manage their condo lending process from leading loan origination software platform—
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the integration of its CondoSafe™ product with the Ellie Mae Encompass® all-in-one mortgage management solution. CondoSafe is a one-stop condo project review tool that enables lenders to have a single, consistent, standardized review process, allowing them to determine eligibility earlier in the process, resulting in quicker approvals.
“Condo lending can often be a complex, frustrating and time-consuming process,” said Jacquie Doty, executive, product management, for CoreLogic. “CondoSafe takes the hassle out of condo lending for lenders – providing them with a single source for important association documentations along with a report that can help them spot any potential investor or GSE-eligibility issues.”
The CondoSafe report alerts underwriters to potential Fannie Mae, Freddie Mac, Federal Housing Administration, Department of Veterans Affairs or other investor eligibility issues. Alerts are delivered in an underwriting-friendly, standardized format—allowing lenders to easily focus on areas that require more investigation. And with a standard fee for each order, there are no surprises when calculating the cost of documentation. Additionally, important documents such as CC&R’s and Insurance documentation can also be obtained in an a la carte manner.
“Our recent investments in workflow technology, combined with improved condo data will provide CondoSafe users on Encompass with an unparalleled experience,” said Sapan Bafna, senior leader, Advanced Delivery Engines for CoreLogic. “When utilized within Encompass, clients will now get their condo lending information faster and all documents will be easily accessed via their eFolder.”
CondoSafe joins 15 other CoreLogic products currently integrated with the Encompass platform, including OnSite property condition reports, Instant Merge® – the nation’s most popular 3-bureau merged credit reporting solution, flood determinations, Property Tax Estimator, LoanSafe Fraud Manager™, LoanSafe Risk Manager™, appraisal management services via Mercury Network®, Merge Plus credit supplements, 4506-T Direct™, FinalCheck LQI Compliance, automated valuation models, SSN Verification and several services within the Ellie Mae Total Quality Loan™.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
CORELOGIC, 4506-T Direct, CondoSafe, Instant Merge, LoanSafe Fraud Manager, LoanSafe Risk Manager, Mercury Network, and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.
Encompass and Total Quality Loan are registered trademarks of Ellie Mae, Inc.